Company (NASDAQ: SHOP) disclosure: Tobias Lutke sale of 73,275 shares

Rhea-AI Filing Summary

Tobias Lutke reported a proposed sale of 73,275 Class A Subordinate Voting Shares via Form 144. The filing shows that sale dated 12/16/2025 with an aggregate amount listed as $11,766,330.97. The excerpt also lists multiple historical transfers including gifts, conversions and RSU vesting.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Class A Subordinate Voting Shares	Solium Capital ULC 1500 600-3rd Ave., SW Calgary A0 T2P 0G5	93516	11250909.96	1226037779	03/18/2026	NASDAQ
Class A Subordinate Voting Shares	PWL Capital Inc. 3400 de Maisonneuve W Suite 1501 Montreal A8 H3Z 3B8	104250	12542317.5	1226037779	03/18/2026	NASDAQ
Class A Subordinate Voting Shares	PWL Capital Inc. 3400 de Maisonneuve W Suite 1501 Montreal A8 H3Z 3B8	521250	62711587.5	1226037779	03/18/2026	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Subordinate Voting Shares	02/28/2026	Vesting of RSUs	Issuer			46758	03/18/2026	Vesting of RSUs
Class A Subordinate Voting Shares	12/10/2025	Gift			11/16/2020	3830		N/A (gift)
Class A Subordinate Voting Shares	12/10/2025	Gift			05/10/2022	100420		N/A (gift)
Class A Subordinate Voting Shares	11/16/2020	Conversion of Class B Multiple Voting Shares	Issuer			48670	11/16/2020	N/A (conversion)
Class A Subordinate Voting Shares	10/31/2022	Open market purchase	Open market purchase			282942	10/31/2022	Cash
Class A Subordinate Voting Shares	12/12/2025	Conversion of Class B Multiple Voting Shares	Issuer			189638	12/12/2025	N/A (conversion)

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Tobias Lutke 151 O'Connor St. Ground Floor Ottawa A6 K2P 2L8	Class A Subordinate Voting Shares	12/16/2025	73275	11766330.97

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the SHOP Form 144 show about Tobias Lutke?

The Form 144 lists a proposed sale by Tobias Lutke of 73,275 Class A shares dated 12/16/2025. The filing includes an aggregate value shown as $11,766,330.97 and other historical transfers in the excerpt.

How many Class A Subordinate Voting Shares are listed as sold?

The excerpt shows 73,275 Class A Subordinate Voting Shares associated with a sale on 12/16/2025. That specific row pairs the share count with an aggregate amount of $11,766,330.97 in the provided content.

Does the filing show other types of transactions besides the sale?

Yes. The excerpt lists multiple transaction types including vesting of RSUs, gifts, open market purchases, and conversions of Class B to Class A, with various dates and share counts shown in the excerpt.

What dates appear in the Form 144 excerpt?

Key dates in the excerpt include the sale row dated 12/16/2025 and other transaction dates such as 02/28/2026, 12/10/2025, 11/16/2020, 10/31/2022, and 12/12/2025, each tied to listed transactions.